Cline Corporation deposits $75,000 every quarter in a savings account (beginning at the end of the current quarter) for the next six years so that it can purchase a new piece of machinery at the end of six years. The interest rate is 4%. How much money will Cline Corporation have at the end of six years? (Use spreadsheet software or a financial calculator to calculate your answer. Do not round any intermediary calculations, and round your final answer to the nearest dollar.) Group of answer choices $2,043,240 $2,023,010 $2,931,195 $1,126,935
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- Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $4,200 over the next 6 years when the interest rate is 8%, how much do you need to deposit in the account? B. If you place $8,700 in a savings account, how much will you have at the end of 12 years with an interest rate of 8%? C. You invest $2,000 per year, at the end of the year, for 20 years at 10% interest. How much will you have at the end of 20 years? D. You win the lottery and can either receive $500,000 as a lump sum or $60,000 per year for 20 years. Assuming you can earn 3% interest, which do you recommend and why?You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the third year. B. Use the future value of $1 table In Appendix B and verify that your answer is correct.Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $2,500 over the next 4 years when the interest rate is 15%, how much do you need to deposit in the account? B. If you place $6,200 in a savings account, how much will you have at the end of 7 years with a 12% interest rate? C. You invest $8,000 per year for 10 years at 12% interest, how much will you have at the end of 10 years? D. You win the lottery and can either receive $750,000 as a lump sum or $50,000 per year for 20 years. Assuming you can earn 8% interest, which do you recommend and why?
- Billy Bob Corporation deposits $100,000 at the beginning of every quarter in a savings account for the next five years so that it can purchase a new piece of machinery at the end of five years. The interest rate is 8%. How much money will BillyBob Corporation have at the end of five years? (Use spreadsheet software or a financial calculator to calculate your answer. Do not round any intermediary calculations, and round your final answer to the nearest dollar) OA $633,593 OB. $2,478,332 OC. $2,429,737 OD. $530,812Maddie's Place Corporation deposits $100,000 at the beginning of every quarter in a savings account for the next five years so that it can purchase a new piece of machinery at the end of five years. The interest rate is 12%. How much money will Maddie's Place Corporation have at the end of five years? (Use spreadsheet software or a financial calculator to calculate your answer. Do not round any intermediary calculations, and round your final answer to the nearest dollar.) Group of answer choices $711,519 $2,767,649 $546,841 $2,687,037Aucutt Incorporated deposits $100,000 every January 1st and July 1st in a savings account for the next six years so that it can purchase a new piece of machinery at the end of six years. The interest rate is 12%. How much money will Aucutt Incorporated have at the end of six years? (Use spreadsheet software or a financial calculator to calculate your answer. Do not round any intermediary calculations, and round your final answer to the nearest dollar.) $1,686,994 $908,901 $1,788,214 $811,519
- You want to be able to withdraw $5000 from an account at the end of each year for the next 12 years. How much money should you invest now into an account earning 5.5% interest per year, compounded annually, in order to fund the desired withdrawals? Assume the account is empty after the last withdrawal is made. Give the answer to 2 decimal places, and do not use the $ sign in the answer box. The amount to invest now is Blank 1. Calculate the answer by read surrounding text. dollars.BillyBob Corporation deposits $40,000 at the beginning of every quarter in a savings account for the next five years so that it can purchase a new piece of machinery at the end of five years. The interest rate is 8%. How much money will BillyBob Corporation have at the end of five years? (Use spreadsheet software or a financial calculator to calculate your answer.You plan to deposit $1,500 per year for 4 years into a money market account with an annual return of 3%. You plan to make your first deposit one year from today. What amount will be in your account at the end of 4 years? Do not round intermediate calculations. Round your answer to the nearest cent.$ Assume that your deposits will begin today. What amount will be in your account after 4 years? Do not round intermediate calculations. Round your answer to the nearest cent.$
- When payments are made at the end of each period, you will treat them as . You are planning to put $2,000 in the bank at the end of each year for the next eight years in hopes that you will have enough money for a new boat. If you are investing at an annual interest rate of 6%, you’ll have accumulated at the end of eight years. You decided to deposit your money in the bank at the beginning of the year instead of the end of the same year, but now you are making payments of $2,250 at an annual interest rate of 8%. How much money will you have available at the end of four years? $16,509 $16,070 $10,950 $15,874Please provide the steps to solving this problem using a financial calculator: You just opened a brokerage account, depositing $3,500. You expect the account to earn an interest rate of 9.652%. You also plan on depositing $4,500 at the end of years 5 through 10. What will be the value of the account at the end of 20 years, assuming you earn your expected rate of return?If you deposit $4,000 at the end of each year into an account which earns 10.3%, how many years will it take until your account is worth $1,000,000? (using a spreadsheet)